Online gambling legislation gets green light in Buenos Aires

Business News

María Eugenia Vidal has given the green light to move forward with the enabling of online gaming.

The new law creates two new taxes on the gaming sector: one for online gaming that until now was not regulated and therefore not taxed, and the other (2%) will be the tax on the prize or winning bets.

The gross profits produced by online games (the difference between the total amount paid, discounting the payment of prizes) will be distributed 8% to General Income, to attend actions inherent to education, promotion and social assistance, as determined by the Executive Power; and the remaining percentage for the operator after deduction of the fee that is later fixed in the regulations.